>There is a SINGLE driver of price for a is product: how much people will pay for it. That’s it.
It's worth noting this is a neoclassical view (if we take it to mean supply and demand solely determines the price of a product) but there are other views too (Sraffian, Ricardian and Marxian, for instance, though these are more oriented on value than price). I don't think the quick answer to the question offers enough explanatory power as to why many (most?) people in the market would pay that much for it.